Strategic Advisors LLC Takes Position in McDonald’s Corporation $MCD

Strategic Advisors LLC purchased a new stake in shares of McDonald’s Corporation (NYSE:MCD) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,189 shares of the fast-food giant’s stock, valued at approximately $665,000.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in McDonald’s in the second quarter worth $2,780,712,000. Laurel Wealth Advisors LLC increased its holdings in shares of McDonald’s by 29,382.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,737,548 shares of the fast-food giant’s stock worth $1,676,339,000 after buying an additional 5,718,087 shares during the last quarter. Soundwatch Capital LLC purchased a new stake in shares of McDonald’s during the 2nd quarter valued at about $1,412,069,000. Viking Global Investors LP raised its position in shares of McDonald’s by 171.7% during the 2nd quarter. Viking Global Investors LP now owns 3,125,432 shares of the fast-food giant’s stock valued at $913,157,000 after buying an additional 1,974,998 shares in the last quarter. Finally, Amundi lifted its holdings in shares of McDonald’s by 96.0% in the 2nd quarter. Amundi now owns 4,032,676 shares of the fast-food giant’s stock valued at $1,188,147,000 after acquiring an additional 1,974,751 shares during the last quarter. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

MCD stock opened at $312.75 on Thursday. McDonald’s Corporation has a 12 month low of $283.47 and a 12 month high of $326.32. The firm’s 50-day moving average is $309.42 and its 200 day moving average is $306.26. The company has a market capitalization of $222.73 billion, a PE ratio of 26.69, a P/E/G ratio of 3.17 and a beta of 0.53.

McDonald’s (NYSE:MCD) last issued its earnings results on Wednesday, November 5th. The fast-food giant reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.11). McDonald’s had a negative return on equity of 280.89% and a net margin of 32.04%.The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.10 billion. During the same period last year, the business posted $3.23 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that McDonald’s Corporation will post 12.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCD shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of McDonald’s in a research note on Friday, October 31st. Barclays boosted their price objective on shares of McDonald’s from $358.00 to $372.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Oppenheimer upgraded shares of McDonald’s from a “market perform” rating to an “outperform” rating and set a $355.00 target price for the company in a report on Tuesday, January 6th. Sanford C. Bernstein reiterated an “overweight” rating and set a $372.00 price target on shares of McDonald’s in a report on Wednesday, January 7th. Finally, Truist Financial raised their price objective on shares of McDonald’s from $350.00 to $356.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Thirteen equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $328.88.

Insider Transactions at McDonald’s

In related news, EVP Desiree Ralls-Morrison sold 2,486 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $320.00, for a total value of $795,520.00. Following the completion of the sale, the executive vice president directly owned 6,268 shares of the company’s stock, valued at $2,005,760. This represents a 28.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manuel Jm Steijaert sold 6,567 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $305.50, for a total transaction of $2,006,218.50. Following the completion of the sale, the executive vice president owned 4,606 shares of the company’s stock, valued at approximately $1,407,133. This represents a 58.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 45,142 shares of company stock valued at $13,841,169. Insiders own 0.25% of the company’s stock.

McDonald’s Company Profile

McDonald’s Corporation (NYSE: MCD) is a global quick-service restaurant company best known for its hamburgers, French fries and breakfast offerings. The company develops, operates and franchises a system of restaurants that sell a range of food and beverage items, including signature products such as the Big Mac, Quarter Pounder, Chicken McNuggets, McCafé coffee beverages and a variety of salads, desserts and seasonal menu items. McDonald’s serves customers through company-operated restaurants and franchised locations, and it supports sales via dine-in, drive-thru, digital ordering platforms and third-party delivery partnerships.

Founded in 1940 by brothers Richard and Maurice McDonald as a single San Bernardino, California restaurant, the business was transformed into a franchising model after Ray Kroc joined in the mid-1950s and led the brand’s national and international expansion.